8/25/2010 8:23:56 AM
COTTSDALE, Ariz., Aug. 25, 2010 (GLOBE NEWSWIRE) -- ImmuneRegen BioSciences(R), a wholly owned subsidiary of IR Biosciences Holdings Inc. (OTCBB:IRBS - News), today announced that the National Institute of Health/National Institute of Allergy and Infectious Disease, has awarded its research partner, the University of Rochester Medical Center (URMC), a $15 million five-year, continuation grant for studies that will utilize ImmuneRegen's Homspera.
URMC was awarded an initial grant of $21 million in 2005 to become part of a national research network - the Centers for Medical Countermeasures Against Radiation. The Centers were charged with researching how best to respond to a possible dirty bomb or other radiological or nuclear attack. This new award will allow URMC researchers to focus on testing known drugs and experimental agents, including Homspera, for use as a radiation-induced injury medical counter-measure.
"This funding will enable us to better define the capabilities, some of which we've already described, of Homspera in irradiated animals," stated Hal Siegel, Ph.D., ImmuneRegen's Chief Scientific Officer. "It also provides support to our efforts to develop Homspera to mitigate multiple deleterious effects of radiation, and as an agent for treating Idiopathic Pulmonary Fibrosis as well."
This newly-funded research will expand on studies already being performed at URMC evaluating the efficacy of Homspera in mitigating lung injury induced by radiation exposure. Dr. Jacob Finkelstein, a member of ImmuneRegen's Scientific Advisory Board and investigator on several Homspera studies, is a project leader on multiple programs within the Rochester Center.
This research is an extension of studies ImmuneRegen has previously performed demonstrating efficacy of Homspera in treating pulmonary injury as well as mitigating the acute effects, including the hematopoietic syndrome, resulting from exposure to ionizing radiation.
The University of Rochester's research will be divided into four main projects, each covering a specific organ system particularly susceptible to radiation-induced injury: lung, brain, skin, and blood. ImmuneRegen's Homspera has been found have positive effects in more than one of the organ systems cited above and could be researched further in projects beyond just mitigating lung injury induced by radiation.
Cancer patients will also benefit from the award, as Rochester researchers uncover new information about how to protect the blood vessels and bone marrow from radiation injury, common in cancer patients treated with radiation.
About ImmuneRegen BioSciences, Inc.
ImmuneRegen BioSciences Inc., a wholly owned subsidiary of IR BioSciences Holdings, Inc. (OTCBB:IRBS - News), is a development-stage biotechnology company focused on the research, development and licensing of Homspera(R).
Homspera is an adult stem cell active compound that in study results has been shown to regenerate and strengthen the immune system and enhance wound healing. Homspera is being developed for potential use against infectious diseases as a stand-alone or combination therapy and as a vaccine adjuvant. Additionally, Homspera is being developed for use as a therapeutic for Idiopathic Pulmonary Fibrosis, an indication which ImmuneRegen has recently submitted for Orphan Drug Status.
To advance its mission, the Scottsdale, Arizona based company has forged numerous partnerships with industry and academic leaders, including Celgene Cellular Therapeutics, HemoGenix, and in the oncology space with The National Cancer Institute, Fred Hutchinson Cancer Research Center, and the Radboud University Nijmegen Medical Centre.
For more information, please visit www.immuneregen.com.
Statements about the Company's future expectations, including statements about the potential use and scientific results for the Company's drug candidates, science and technology, and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
These future events may not occur as and when expected, if at all, and, together with the Company's business, are subject to various risks and uncertainties. The Company's actual results could differ materially from expected results as a result of a number of factors, including the uncertainties inherent in research and development collaborations, pre-clinical and clinical trials and product development programs (including, but not limited to the fact that future results or research and development efforts may prove less encouraging than current results or cause side effects not observed in current pre-clinical trials), the evaluation of potential opportunities, the level of corporate expenditures and monies available for further studies, capital market conditions, and others set forth in the Company's periodic report on Form 10-Q for the three months ended March 31, 2010 as filed with the Securities and Exchange Commission and report on Form 10-K for the year ended December 31, 2009 as filed with the Securities and Exchange Commission. There are no guarantees that any of the Company's proposed products will prove to be commercially successful. The Company undertakes no duty to update forward-looking statements.
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